50 Cent Speaks On His Bankruptcy To Conan O’Brien

by Shantel WhitakerJuly 17, 2015, 6:16 pmNews, News Feed >

50 Cent opened up about his bankruptcy filing on Wednesday night, during an interview on Conan.

50 Cent Talks Bankruptcy On ‘Conan’

50 Cent shocked fans when he filed for bankruptcy earlier this week. The rapper filed for Chapter 11 bankruptcy after losing $5 million in his sex tape lawsuit.

50 cent’s lawyers explained to news sources that the bankruptcy was just a way for the rapper to organize his accounts. “The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests.”

The rapper himself assured fans that there was really nothing to worry about. “Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward,” 50 Cent told E! News on Monday.

Wednesday night the Vitamin Water mogul appeared on Conan, where he promoted his new film Southpaw and answered questions about his Diddy Instagram posts. But, O’Brien could not let the rapper go without addressing the bankruptcy matter.

“We have to talk about this, because it has been in the news everywhere. Monday you filed for bankruptcy,” the host said.

The rapper told the audience he was just protecting himself by filing the paperwork. “I needed protection. You get a bulls-eye pinned on your back when you’re successful publicly,” 50 Cent pointed out. “You become the ideal person for people to have lawsuits for.”

https://www.youtube.com/watch?v=XyflMbDsQ2E

O’Brien later showed the audience the rapper’s latest Instagram posts, in which he has a bit of fun — mocking himself over this bankruptcy problem.

“Times are hard out here, for real,” 50 Cent remarked to Conan. “That picture was actually taken by co-star Jake Gyllenhaal. Total empty parking lot, so he took the picture.”